FTSE LIVE: Barratt posts jump in profits; Quiz takes House of Fraser hit; UK stocks in the red


FTSE CLOSE: London stocks dive into the red; services sector activity beats forecasts; housebuilders Barratt and Berkeley post robust profits

The FTSE 100 closed down 74.58 points at 7383.28 and the pound was at $1.29 against the dollar.

Housebuilder Barratt Developments has posted a hefty rise in annual profits and hailed an ‘outstanding’ year. Barratt said market conditions remain good despite reports that Help to Buy will be scrapped in 2021, as well as a warning from rival firm Berkeley today over Brexit. 

Retailer Quiz, which floated last year, warned that its profits will be hit to the tune of £400,000 by the collapse of House of Fraser and the chain’s subsequent takeover by Sports Direct. 

 

 

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